U.S. auto sales rose 6% in January, although results were generally disappointing. Sales were hurt by weak demand from consumers and the well-publicized problems at Toyota Motor.
General Motors is offering incentives of $1,000 and low financing rates specifically for Toyota customers worried about their recalled vehicles, beginning Wednesday.
General Motors' chairman and acting CEO Ed Whitacre will become permanent CEO, the automaker said in a press conference Monday. Whitacre also announced that GM would pay back all of its government loans, in full, by June.
At least 1,250 dealerships that got the axe from Chrysler and General Motors as the Detroit giants went through bankruptcy have filed notice that they will appeal their shutdown, according to the American Arbitration Association.
About 900 General Motors and Chrysler dealerships that got the ax as the Detroit giants went through bankruptcy have filed notice that they will appeal their shutdown, according to the American Arbitration Association.
The auto industry is hoping that there will be no detours on the road to recovery in 2010, and investors going along for the ride have driven up the stocks of industry leaders.
General Motors confirmed Wednesday that it put an end to an agreement with Tiger Woods that allowed the golfer to drive its vehicles for free.
The golfer, whose troubles began in a GM car, no longer gets vehicles for free
The most intriguing question facing General Motors is the simplest one: Who's going to get behind the wheel?
This year's Detroit auto show is notable for its lack of pizzazz. On a day when an inch of snow snarled traffic throughout the metro area, the show itself seemed muffled by the precipitation. Hard to find this day were the made-for-TV unveilings of new models, extravagant and fanciful concept cart reveals, or exciting new models.
U.S. auto sales rose 6% in January, although results were generally disappointing. Sales were hurt by weak demand from consumers and the well-publicized problems at Toyota Motor.
General Motors is offering incentives of $1,000 and low financing rates specifically for Toyota customers worried about their recalled vehicles, beginning Wednesday.
General Motors' chairman and acting CEO Ed Whitacre will become permanent CEO, the automaker said in a press conference Monday. Whitacre also announced that GM would pay back all of its government loans, in full, by June.
At least 1,250 dealerships that got the axe from Chrysler and General Motors as the Detroit giants went through bankruptcy have filed notice that they will appeal their shutdown, according to the American Arbitration Association.
About 900 General Motors and Chrysler dealerships that got the ax as the Detroit giants went through bankruptcy have filed notice that they will appeal their shutdown, according to the American Arbitration Association.
The auto industry is hoping that there will be no detours on the road to recovery in 2010, and investors going along for the ride have driven up the stocks of industry leaders.
General Motors confirmed Wednesday that it put an end to an agreement with Tiger Woods that allowed the golfer to drive its vehicles for free.
The golfer, whose troubles began in a GM car, no longer gets vehicles for free
The most intriguing question facing General Motors is the simplest one: Who's going to get behind the wheel?
This year's Detroit auto show is notable for its lack of pizzazz. On a day when an inch of snow snarled traffic throughout the metro area, the show itself seemed muffled by the precipitation. Hard to find this day were the made-for-TV unveilings of new models, extravagant and fanciful concept cart reveals, or exciting new models.
General Motors Chairman and CEO Ed Whitacre promised Monday that taxpayers will make a profit on the $50 billion that Treasury has sunk into the company over the past 13 months.
This just in from Cobo Hall, Detroit, scene of the 2010 North American International Auto Show:
General Motors' new CEO Ed Whitacre said he believes the company will return to profitability in 2010.
The auto industry ended its worst year in memory with one of its best sales months of the year.
General Motors is recalling some 22,000 Chevrolet Corvettes, because of potentially leaky roofs, National Highway Traffic Safety Administration said Wednesday.
General Motors will offer auto dealers large incentives to move vehicles from its defunct Saturn and Pontiac brands in a sale that deeply discounts the cars' sticker prices.
General Motors, the insular automaker with a tradition of appointing only company veterans to most of its top executive ranks, found a new chief financial officer from outside the auto industry altogether.
Don't close the coffin on Saab just yet.
General Motors is shutting down its Swedish car brand, Saab, after attempts to close a deal with a buyer failed.
General Motors will pay off a $6.7 billion federal loan by June, well ahead of the deadline for the repayment under terms of the bailout, company CEO Ed Whitacre said Tuesday.
As Chrysler and General Motors get ready to sit down and talk with owners of some of the nearly 2,000 dealerships given death sentences, dealers are rolling up their sleeves and preparing to fight for their businesses' lives.
Before the global financial crisis and the Great Recession, before millions of Americans decided not to buy cars this year, before General Motors went bankrupt and the government fired Rick Wagoner, before new GM chairman Ed Whitacre stormed into Detroit and fired Fritz Henderson, a soft-spoken Detroit advertising executive named Chris Balicki arranged to have a quotation from the legendary adman Leo Burnett painted on the wall of the Leo Burnett agency office in Troy, Michigan -- where GM is, for all intents and purposes, the only paying client.
General Motors is considering repaying all of its $6.7 billion in government loans in one lump sum, rather than through quarterly payments as currently planned, Chief Executive Ed Whitacre told journalists during an online press briefing Tuesday.
Ed Whitacre, the chairman and for now the CEO of General Motors, is still not answering questions about the leadership shakeup at the taxpayer-owned automaker, a week after he promised he would make himself available to such questions.
In a management shake-up Friday, General Motors acting chief executive Ed Whitacre pulled long-time auto executive Bob Lutz out of his role as head of marketing, putting him in a new role as an advisor on global design and product development.
Stocks struggled Wednesday as investors sought more evidence that a recovery is taking hold, one day after the Dow industrials closed at its highest point in 14 months.
General Motors tried to keep the focus on its cars at the 2009 Los Angeles Auto Show even as the carmakers' plans were disrupted by the abrupt resignation of its chief executive just the afternoon before.
The captains of bailed-out companies can't seem to stop bailing out.
Stocks were headed for a mixed open Wednesday as investors considered the General Motors shakeup, awaited some employment data and watched gold soar above the $1,200 an ounce mark.
In a surprise move, General Motors chief executive Fritz Henderson resigned Tuesday, giving the battered government-owned automaker its third boss in less than a year.
As one veteran Detroit observer put it, General Motors' board of directors gave Rick Wagoner an endless amount of time to flop around, but they nearly strangled his successor Fritz Henderson on a short leash.
The worst year for U.S. auto sales in decades isn't getting much better yet.
General Motors has put off a decision on what to do with its struggling Saab brand until the end of December, the company said Tuesday.
The deal to sell Saab to Swedish firm Koenigsegg Group AB has collapsed, General Motors announced Tuesday.
GM could one day be Chinese owned.
General Motors said better results will allow it to start repaying government loans sooner than expected, although the company continued to lose money in its first quarter since emerging from bankruptcy.
General Motors will bring back the Regal name on a new Buick car set to be unveiled at the Los Angeles Auto Show next month.
General Motors is moving forward with plans to produce an electrically driven Cadillac luxury car, according to a source familiar with the plan, but no decision has been reached on exactly what that the final product will be.
General Motors has decided to keep its European Opel unit, canceling the planned sale to Canadian firm Magna, the company said.
General Motors expects to announce a market share gain for the third month in a row in October, GM executive director of corporate planning Mike DiGiovanni told reporters on Wednesday.
Electric carmaker Fisker Automotive said Tuesday it is buying an old General Motors plant in Wilmington, Del., and plans on making up to 100,000 vehicles a year at the recently shuttered facility.
If you think General Motors should bring in some "new blood" to shake up its hidebound corporate culture, CEO Fritz Henderson agrees with you. He just has one problem.
I've written a lot about car companies since I started covering business in the 1960s, but I've written very little about cars, because they just don't interest me much.
The "Valley of Death," in auto-industry-speak, is a metaphorical desert where emerging technologies reside while car executives figure out which of the experiments ought to make their way into actual cars.
Support the U.S. economy. Buy American.
General Motors moved a step closer to selling its Hummer brand Friday when it announced that it had signed a definitive agreement with a Chinese manufacturer.
"The key to change ... is to let go of fear." -- Rosanne Cash
General Motors is losing its top U.S. sales executive, a key player in the automaker's reorganization, to a job in another industry, CEO Fritz Henderson announced Wednesday.
For General Motors, the road out of bankruptcy isn't proving to be as smooth as its quick trip through it.
Until last week I had been one of General Motors' most reliable customers for more than 15 years. But my customer relationship with GM ended the very day that GM announced it was closing its Saturn operation -- something I learned when I came home from trading in my 2003 Saturn Vue on a new, spiffy 2010 SUV with an Asian nameplate (I won't name it because I don't want to look like a shill).
Car dealership operator Penske Automotive Group announced on Wednesday that it has cancelled plans to acquire General Motors' Saturn unit. As a result, GM said it will wind down the brand and dealer network, potentially putting 13,000 Saturn dealership jobs at risk.
The demise of Saturn is a good thing for the new General Motors.
Inside General Motors' iconic Detroit headquarters, scores of retail tenants are waiting to find out what happens to their own businesses in the wake of their landlord's bankruptcy.
Here's George McGregor, autoworker. He's 63 years old, a gregarious, barrel-chested graybeard with a gold stud in his ear and a gold cross around his neck.
No city in America has been more entwined with the fortunes of a single industry as Detroit with autos. The nicknames "Motor City" and "Motown," coined years ago, have stuck for good reason.
If you want to understand how the old General Motors stumbled for 30 years until it collapsed into bankruptcy, consider the story of GoFast.
General Motors' rapid trip through bankruptcy is done. Now comes the hard part.
When General Motors announced its new money back guarantee Thursday many people no doubt envisioned the automaker's Detroit headquarters buried under a mountain of returned Chevys and Buicks.
Buy a new General Motors car. Don't like it? Return it and get your money back.
General Motors has agreed to sell a major portion of its European Opel division to a consortium led by the Canadian auto supplier Magna, the automaker announced Thursday.
Much of the money given to General Motors and Chrysler to prevent them from collapsing will never be recovered, according to a report released Wednesday by the Congressional Oversight Panel.
The popular Cash for Clunkers program gave a strong boost to auto sales in August, resulting in the industry posting its best month this year by far. But sales dropped sharply in the last week of August -- after Cash for Clunkers ended.
While Detroit has benefited from Cash for Clunkers, foreign automakers have gained even more.
General Motors is upping production and calling 1,350 of its U.S. and Canadian auto workers back to work due to increased demand for its vehicles.
The other day, General Motors did two things it has never done before:
More customers trading in vehicles under the Cash for Clunkers program bought cars from Toyota than any other manufacturer, according to new government statistics. In previous reports, General Motors has topped that list.
The Volt may get 230 miles per gallon, and GM says it will cost only 40 cents to charge up the car from a regular household outlet. But guess what...it still might not be worth it to buy one.
The Chevrolet Volt, GM's electric car that's expected to go on sale in late 2010, is projected to get an estimated 230 miles per gallon, the automaker announced Tuesday.
It's not exactly buying a car online -- not yet. But General Motors' new eBay portal for its California dealers is a buyer's opportunity to avoid haggling face to face with a salesman, doing it byte to byte on a computer instead.
More than 225 General Motors dealers in California will sell vehicles through the eBay online auction site in a four-week trial, the companies announced Monday.
President Obama ended his first 100 days in office amid hopes that both General Motors and Chrysler Group might both still avoid bankruptcy. In his second 100 days, he created a new U.S. auto industry.
The federal government on Wednesday named which companies will get $2.4 billion in stimulus grants to develop batteries, parts and programs for electric cars.
The independent overseer of the $700 billion bailout has caused a ruckus over an important question: How much do taxpayers have on the line?
Most forecasts of future performance in the auto industry tend to be variations of tea-leaf reading. Analysts take a look at what companies are planning in the way of future models, make a guess about sales volumes, and lay that over a macroeconomic outlook. The results are compromised by too many hard-to-quantify variables.
From the cries of protest emanating from Washington this week, you would think that General Motors and Chrysler were guilty of clubbing baby seals. Or perhaps drowning kittens.
A controversy over the way the Obama administration, General Motors and Chrysler decided to shutter more than 3,000 auto dealerships has reached Congress, with a House subcommittee now taking a closer look and a bill under consideration that could reverse the decision.
The independent overseer of the $700 billion bailout has caused a ruckus over an important question: How much do taxpayers have on the line?
Dealers who have been muscled out at Chrysler Group and General Motors are trying to get Congress to force the automakers to take them back.
Steve Rattner, the Obama administration's point man on negotiations with General Motors and Chrysler through their bailouts and bankruptcies, is returning to the private sector.
Fresh out of bankruptcy, the new General Motors hopes to soon start selling its whole line of cars on eBay through a pilot program.
After a six-week trip through bankruptcy, the "new" General Motors was born Friday owned by the government and free of tens of billions in debt and shed of unaffordable brands, dealerships and plants.
There are a lot of changes at the "new" General Motors. Billions less debt. Fewer plants. Fewer workers.
The cars of the future will run on electricity, most major automakers agree on that. What they don't agree on is how soon drivers will be ready to fully embrace electric power and how aggressively to push electric cars.
A leaner General Motors was close to starting a new life under government ownership Friday.
General Motors' rapid trip through bankruptcy is almost done. Now comes the hard part.
Thanks to a bankruptcy court decision issued late Sunday night, General Motors is close to making a quick trip through bankruptcy. But that doesn't mean that its reorganization is almost done.
Stocks cut losses, ending mixed Monday, as worries about the duration of the recession were tempered by a rally in select blue chips.
General Motors' plan to restructure, with a lot of help from the federal government, has been approved by a bankruptcy judge.
U.S. stocks were poised for a lower open Monday after General Motors' bankruptcy plan received a federal judge's approval, and at the start of a week that will kick off second-quarter corporate financial reporting.
Lawyers wrapped up their closing arguments in the GM bankruptcy case Thursday, opening the way for the judge to decide whether to approve or deny the sale of the automaker's assets to a "new GM."
General Motors returned to bankruptcy court Thursday seeking approval of its plan to restructure and create a "new GM."
The head of General Motors, seeking swift approval of a plan to leave the automaker's debt behind, told a bankruptcy court Tuesday that the company's June sales are stronger than expected -- in part because the bankruptcy process is going swiftly.
General Motors is racing through the early stages of its bankruptcy, in the hope of emerging as a new, independent company by August or early September.
Compared to the past three Sprint Cup seasons, Richard Childress Racing has been mired in a slump. With 10 races remaining before the Chase, none of its four drivers are in the top 12. Jeff Burton (15th in the points and 46 behind current final qualifier Juan Pablo Montoya) and Clint Bowyer (16th and 65 back), still have a chance, but Casey Mears (21st and 300 back) and Kevin Harvick (25th and 380 back) really don't.
One road to regulatory reform runs through Detroit and Utah -- and there are signs the ride could get bumpy.
For much of the last year, Ford Motor has been the strongest U.S.-based automaker.
A plea by struggling auto parts makers for $8 billion to $10 billion in additional federal loan guarantees was turned down by the Obama administration's auto task force last week.
As Chrysler morphs into a new company and as General Motors moves ahead with its bankruptcy process, injured plaintiffs are getting left behind.
These are hard times for car dealers. Across the nation, General Motors and Chrysler dealerships are pulling down their big roadside signs and closing their doors.
General Motors has been pretty active in its first two weeks as a bankrupt company.
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